Glenview Trust Co Invests $13.20 Million in BlackRock $BLK

Key Points

• Glenview Trust Co. purchased 13,725 BlackRock shares during the second quarter, valued at approximately $13.2 million. Institutional investors and hedge funds collectively own 80.69% of BLK.
• Analysts remain broadly bullish, with an average “Moderate Buy” rating and a consensus price target of $1,311.06; several firms recently raised their targets.
• BlackRock reported quarterly earnings of $13.91 per share and revenue of $7.08 billion, exceeding estimates, while revenue rose 30.6% year over year. The company also declared a quarterly dividend of $5.73 per share, equal to a 2.0% annualized yield.

Glenview Trust Co purchased a new stake in BlackRock (NYSE:BLK - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,725 shares of the asset manager's stock, valued at approximately $13,197,000.

Several other large investors have also modified their holdings of BLK. BlackRock Inc. acquired a new stake in BlackRock during the 2nd quarter worth $9,747,857,000. Corient Private Wealth LLC increased its position in shares of BlackRock by 5,190.3% during the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager's stock worth $5,876,618,000 after purchasing an additional 5,386,640 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of BlackRock in the 2nd quarter valued at about $4,409,095,000. Norges Bank acquired a new stake in shares of BlackRock in the 4th quarter valued at about $2,742,680,000. Finally, Santa Clara Valley Transportation Authority purchased a new position in BlackRock during the 2nd quarter worth approximately $129,138,253,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BLK shares. BNP Paribas Exane boosted their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a research note on Tuesday, June 23rd. Weiss Ratings cut shares of BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. UBS Group upped their price target on shares of BlackRock from $1,270.00 to $1,320.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Barclays increased their price target on shares of BlackRock from $1,340.00 to $1,450.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Finally, Evercore reissued an "outperform" rating and set a $1,260.00 price objective on shares of BlackRock in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,311.06.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s newer income-focused ETF is reportedly up 19% this year, compared with 10% for JPMorgan’s JEPQ, while charging the same fee. Strong relative performance could support additional iShares inflows and fee revenue. BlackRock ETF outperformance article
• Positive Sentiment: BlackRock continues to highlight Bitcoin’s role as “digital gold” and a hedge against rising U.S. debt and deficits. Management also sees continued strength in Bitcoin, supporting the long-term case for cryptocurrency-related assets under management. BlackRock Bitcoin hedge case article
• Positive Sentiment: Adroit Trading Technologies is integrating its cross-asset execution tools with BlackRock’s Aladdin platform. The partnership may improve Aladdin’s functionality, client retention and potential technology-related revenue. Aladdin integration article
• Positive Sentiment: BlackRock’s crypto portfolio reportedly gained more than $15 billion during August as Bitcoin and Ethereum rallied. The firm is also participating in an Nvidia-led effort tied to AI infrastructure, broadening potential future growth avenues beyond traditional asset management. BlackRock crypto and AI strategy article

BlackRock Price Performance

BlackRock stock opened at $1,167.69 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. The business has a 50 day simple moving average of $1,077.50 and a 200-day simple moving average of $1,046.77. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The stock has a market capitalization of $180.84 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, beating analysts' consensus estimates of $12.69 by $1.22. The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. BlackRock's quarterly revenue was up 30.6% on a year-over-year basis. During the same period last year, the firm posted $12.05 EPS. Equities analysts predict that BlackRock will post 55.86 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th will be issued a $5.73 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $22.92 annualized dividend and a dividend yield of 2.0%. BlackRock's payout ratio is presently 54.78%.

About BlackRock

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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